EDV vs. PDBC
EDV (Vanguard Extended Duration Treasury ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - EDV is a Government Bonds fund tracking the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while PDBC is a Commodities fund actively managed by Invesco. EDV is passively managed, while PDBC is actively managed. Over the past 10 years, EDV returned -4.26%/yr vs 8.61%/yr for PDBC. Their -0.17 correlation means they have often moved in opposite directions in the past. EDV charges 0.05%/yr vs 0.58%/yr for PDBC.
Performance
EDV vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, EDV achieves a -4.32% return, which is significantly lower than PDBC's 28.15% return. Over the past 10 years, EDV has underperformed PDBC with an annualized return of -4.26%, while PDBC has yielded a comparatively higher 8.61% annualized return.
EDV
- 1D
- 0.35%
- 1M
- -4.17%
- 6M
- -3.58%
- YTD
- -4.32%
- 1Y
- -5.09%
- 3Y*
- -4.09%
- 5Y*
- -12.06%
- 10Y*
- -4.26%
- ALL TIME*
- 2.45%
PDBC
- 1D
- 0.47%
- 1M
- 5.47%
- 6M
- 18.25%
- YTD
- 28.15%
- 1Y
- 35.58%
- 3Y*
- 9.41%
- 5Y*
- 11.02%
- 10Y*
- 8.61%
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $94.12M | $76.28M | $68.00M | |
| $121.86M | $152.61M | $122.20M |
EDV vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | -4.32% | 0.65% | -12.78% | 1.65% | -39.15% | -6.19% | 23.59% | 18.67% | -3.40% | 13.94% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.15% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between EDV and PDBC is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | -0.17 |
The correlation between EDV and PDBC shifts across timeframes, from -0.36 (1 year) to -0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EDV vs. PDBC — Risk / Return Rank
EDV
PDBC
EDV vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EDV | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.84 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.16 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.79 | 7.07 | -7.86 |
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Drawdowns
EDV vs. PDBC - Drawdown Comparison
The maximum EDV drawdown since its inception was -59.96%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for EDV and PDBC.
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Drawdown Indicators
| EDV | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -49.52% | -10.44% |
Max Drawdown (1Y)Largest decline over 1 year | -13.24% | -16.55% | +3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -22.74% | -16.55% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -55.03% | -27.63% | -27.40% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -40.73% | -19.23% |
Current DrawdownCurrent decline from peak | -56.10% | -10.21% | -45.89% |
Average DrawdownAverage peak-to-trough decline | -23.72% | -23.02% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.47% | 5.05% | +1.42% |
Volatility
EDV vs. PDBC - Volatility Comparison
The current volatility for Vanguard Extended Duration Treasury ETF (EDV) is 3.97%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.58%. This indicates that EDV experiences smaller price fluctuations and is considered to be less risky than PDBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDV | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.97% | 7.58% | -3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 16.65% | -6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 19.73% | -5.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.52% | 19.28% | +2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.73% | 17.85% | +1.88% |
EDV vs. PDBC - Expense Ratio Comparison
EDV has a 0.05% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
EDV vs. PDBC - Dividend Comparison
EDV's dividend yield for the trailing twelve months is around 5.34%, more than PDBC's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 5.34% | 4.94% | 4.65% | 3.81% | 3.28% | 1.95% | 5.54% | 3.51% | 2.90% | 2.92% | 5.32% | 4.24% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.00% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
Frequently Asked Questions
EDV and PDBC have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.58%) compared to EDV (3.97%). In terms of maximum drawdown, EDV dropped -59.96% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 8.61% vs -4.26% for EDV. On fees, EDV is cheaper at 0.05% per year. On volatility, EDV has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 8.61% return vs -4.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDV is cheaper with a 0.05% expense ratio, compared with 0.58% for PDBC.
EDV has the higher dividend yield at 5.34%, compared with 3.00% for PDBC.
EDV is categorized as Government Bonds, while PDBC is Commodities. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for EDV and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.81 vs -0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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